Worthington Steel (NYSE:WS) Director Scott Kelly Buys 7,000 Shares

Worthington Steel, Inc. (NYSE:WS) Director Scott Kelly purchased 7,000 shares of the stock in a transaction on Tuesday, January 27th. The shares were purchased at an average cost of $39.11 per share, with a total value of $273,770.00. Following the transaction, the director owned 16,157 shares of the company’s stock, valued at $631,900.27. This trade represents a 76.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Worthington Steel Trading Up 2.8%

Shares of Worthington Steel stock traded up $1.08 during trading hours on Thursday, reaching $40.10. The stock had a trading volume of 248,749 shares, compared to its average volume of 276,811. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 22.53 and a beta of 1.69. Worthington Steel, Inc. has a 1 year low of $21.30 and a 1 year high of $44.00. The company has a current ratio of 1.80, a quick ratio of 1.09 and a debt-to-equity ratio of 0.04. The firm has a 50 day simple moving average of $36.16 and a two-hundred day simple moving average of $33.22.

Worthington Steel (NYSE:WS) last posted its earnings results on Friday, December 19th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The business had revenue of $871.90 million for the quarter, compared to analyst estimates of $797.25 million. Worthington Steel had a return on equity of 10.70% and a net margin of 3.83%.The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the company posted $0.19 EPS. As a group, equities research analysts anticipate that Worthington Steel, Inc. will post 2.26 earnings per share for the current year.

Worthington Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, March 13th. Worthington Steel’s dividend payout ratio is currently 35.96%.

Institutional Trading of Worthington Steel

Several institutional investors have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC acquired a new position in Worthington Steel during the 2nd quarter worth $25,000. AlphaQuest LLC acquired a new position in Worthington Steel in the second quarter worth about $34,000. GAMMA Investing LLC grew its stake in Worthington Steel by 57.1% in the second quarter. GAMMA Investing LLC now owns 1,219 shares of the company’s stock worth $36,000 after purchasing an additional 443 shares in the last quarter. MAI Capital Management increased its holdings in Worthington Steel by 39.8% in the third quarter. MAI Capital Management now owns 1,404 shares of the company’s stock valued at $43,000 after buying an additional 400 shares during the last quarter. Finally, Caldwell Trust Co acquired a new stake in Worthington Steel during the second quarter valued at approximately $52,000. 45.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wall Street Zen upgraded Worthington Steel from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. KeyCorp boosted their price target on Worthington Steel from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Zacks Research cut Worthington Steel from a “hold” rating to a “strong sell” rating in a report on Monday, December 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Steel in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.00.

About Worthington Steel

Worthington Steel (NYSE: WS) is a leading North American steel processor specializing in the production of flat-rolled, coated and painted sheet and coil products. Operating as a wholly owned subsidiary of Worthington Industries, the company serves a broad range of industries, including construction, automotive, appliance, energy and agricultural equipment. Its core business activities encompass the processing, finishing and distribution of carbon and advanced high-strength steels, aluminum and stainless products to manufacturers across the continent.

The company’s product portfolio includes hot-dip galvanizing, galvannealed, aluminized and pre-painted steel products, as well as cold-rolled and hot-rolled coil.